News In Brief 21 June 2005

Heinz Buying Danone Groups' HP Foods

Longtime Goal of 57 Varieties of Worcestershire Sauce Near

In an all-cash deal, the H.J. Heinz Company is expected to purchase HP Food, a British condiment company that is part of Groupe Danone's holdings, for close to $861-Million.

Famous in Britain, HP Foods namesake sauce is a spicy brown condiment used on "fry-ups", a traditional British breakfast of eggs, sausages, bacon, beans, tomatoes and mushrooms. The sauce's name stands for "House of Parliament", where legend says it was first served over a century ago.

HP Food also makes the famous Lea & Perrins Worcestershire sauce, which Heinz has stated was the key to making the deal.

Heinz's chairman, chief executive and president, William R. Johnson, has long sought ownership of the Worcestershire sauce so that the company "can get back to its' roots"

Johnson plans on having Heinz produce 57 different varieties of Worcestershire Sauce

"I love the stuff", said Johnson, "and we need to stay with the times"